Wisconsin native, conservative critic of everything.
"Once abolish the God, and the government becomes the God." ---G K Chesterton
"The only objective of Liberty is Life" --G K Chesterton
"Fallacies do not cease to be fallacies because they become fashions" --G K Chesterton
"A man can never have too much red wine, too many books, or too much ammunition." -- Rudyard Kipling

Tuesday, August 04, 2015

Between the Lines on GE's Bennie-Cut

GE booked $3.3 billion in savings last quarter by widening retiree-benefit
cuts from salaried positions to hourly production jobs, prompting a
backlash from former employees...

The savings on retiree benefits is the largest for the Fairfield,
Conn.-based company since the Affordable Care Act was passed in 2010.
Starting Jan. 1, hourly production retirees who turn 65 by the start of
2018 will be cut off from GE's traditional retiree health plan and,
instead, reimbursed about $1,000 a year on the cost of Medicare coverage
supplements purchased...

You can read the rest on your own.

Unstated directly, but coloring the news-item with a big red crayon: OBOZOCARE.

The cost of GE's retiree-health plan would have skyrocketed with ObozoCare's rules and regs. To avoid that, GE simply dumped the plan--and the beneficiaries--into Medicare. For that matter, the cost of GE's active-employee plan will skyrocket, too--either through the "Cadillac tax" or because of the regs.

Knowing the cozy relationship between Immelt and Obozo, we also know why ObozoCare did not get a direct mention, eh?

Too bad, retirees. Next time, vote for someone who gives a damn about you.